Phillips 66 announced on January 5 2026 that it will acquire the assets and infrastructure of the Lindsey Oil Refinery in northern England. The transaction follows the refinery’s liquidation in June 2025 and will be completed once regulatory approvals and closing conditions are satisfied.
The deal will see Phillips 66 integrate key Lindsey assets—such as storage tanks, pipelines, and processing equipment—into its existing Humber Refinery. By doing so, the company can expand the Humber facility’s production capacity for transportation fuels, sustainable aviation fuel, graphite coke for electric‑vehicle batteries, and petrochemical feedstocks, thereby reinforcing its UK refining footprint.
Analysts note that the Lindsey site is not viable as a standalone refinery due to scale and facility limitations. Phillips 66’s decision to absorb the assets rather than restart the refinery reflects a focus on operational efficiency and cost control, while also preserving hundreds of jobs that will remain secured until the end of March 2026.
Paul Fursey, Phillips 66 UK lead executive, said the acquisition “marks an important step for Phillips 66 Limited as we continue to invest in the UK’s energy security… This sale is the best way forward to secure jobs, bolster the local economy, and encourage investment in the region.” Energy Minister Michael Shanks added that Phillips 66 was the “most credible bidder” and that the agreement “marks the next step in securing an industrial future for the Lindsey site and the workers, who were badly let down by their former owners.”
The announcement was well received by investors, with a positive market reaction that reflected confidence in the strategic fit and job‑safety benefits of the deal.
The acquisition aligns with Phillips 66’s broader strategy to optimize downstream infrastructure and strengthen its competitive position in the UK. By adding Lindsey’s assets to the Humber Refinery, the company can improve supply reliability, support the transition to sustainable fuels, and enhance its ability to serve a growing demand for low‑carbon products.
Phillips 66 operates across three segments—Refining, Marketing & Specialties, and Midstream—each contributing to the company’s integrated energy portfolio. The Lindsey acquisition is expected to reinforce the Refining segment’s output and provide additional feedstock for the Marketing & Specialties and Midstream businesses.
With the deal value undisclosed, the focus remains on the strategic and operational benefits that the acquisition brings to Phillips 66’s UK operations and the local community. The transaction underscores the company’s commitment to energy security, job preservation, and long‑term growth in a consolidating refining market.
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